Thoughts On The Future Of The Hedge Fund Industry

Treatments of the future of hedge funds represent daunting tasks, not in the least because understanding hedge funds' past is still a subject of intense academic, industry practitioner, regulatory and legislative examination. Even the very definition of a hedge fund defies easy characterization, an unusual irony given that, at least for the foreseeable future, hedge funds stand a substantial chance of remaining fixtures on the global landscape of wealth management. What is clear from both the academic and practitioner literatures is that hedge funds do not necessarily hedge.